AUB Can Make Transactions with Resident Legal Entities
OREANDA-NEWS. July 13, 2010. In order to maintain and ensure recovery of AsiaUniversalBank assets, the Board of the National Bank of Kyrgyz Republic has allowed the following transactions with resident legal entities of the Kyrgyz Republic, reported the press-centre of AUB.
According to the Resolution of NBKR Board No. 42/1 it is allowed for:
legal persons that are budgetary organizations
to transfer and disburse funds from current accounts of legal persons for payroll purpose of this legal entity, in full, without limitation of amounts;
to draw-down and transfer funds from current accounts to cover own liabilities to the Social Fund of the Kyrgyz Republic, budget, utilities, telecommunications operators, suppliers of petroleum products, in the amount specified in the settlement documents of service providers (invoice receipt, invoice).
legal persons that are not budgetary organizations
to transfer and disburse payroll funds to pay salaries to employees of this legal entity with the limit—the total amount shall not exceed the average monthly wage fund to be confirmed by the State Tax Service on tax liability of only this particular legal entity;
to draw-down and transfer funds from current accounts to cover own liabilities of these legal persons to the Social Fund, budget, utilities, telecommunications operators, suppliers of petroleum products, in the amount specified in the settlement documents of service providers (invoice receipt, invoice).
According to the Resolution of NBKR Board No. 43/1 dated 7 June 2010 it is allowed to:
repay loans and interest, including use of account balances, in accordance with the repayment schedule;
repay commission fees for maintaining accounts, in accordance with the terms and conditions of the contract;
carry out transaction on accounts opened under payroll projects ;
make payments to service providers using the system of cash payment through bank terminals of the bank with the function Cash-In;
carry out transactions on the accounts of the State Enterprise Kyrgyzpochtasy – payment of benefits and allowances, transfers for subscription;
carry out transactions through the transit accounts opened under contracts for services with Microcredit Company Bai-Tushum, OJSC Aiylbank, civilian registrar's offices, MRE GAI;
carry out transactions under a contract with OJSC SeverElectro to receive and transfer payments to accounts at OJSC RSK Bank;
carry out transactions of customer who are private entrepreneurs working with budgetary organizations;
carry out transactions on the accounts of the Social Fund of the Kyrgyz Republic, such as payment of benefits and allowances, pensions;
perform conversion from customer accounts for payments to the budget, for payment of salaries ;
prolong swap transactions;
perform conversion transactions within the bank (between branches and main office );
close accounts of customers, where there were no movements, in accordance with the internal procedures of the bank.
According to the Resolution of NBKR Board No. 44/1 dated 8 June 2010 it is allowed to:
place and mobilize in the interbank market (REPO, SWAP, MBK) through the interbank trading systems TIES and TC, aimed at regulating the level of liquidity;
transfer funds on correspondent accounts within the amounts received, and to carry out conversion transactions to accumulate money and to service the customer-residents of the Kyrgyz Republic;
carry out foreign currency conversion with NBKR;
carry out transactions for purchase/sale of cash foreign currency, and the exchange of monetary assets to replenish the funds of bank branches to further service the customer-residents of the Kyrgyz Republic;
carry out transactions with bank customer-residents of the Kyrgyz Republic to buy/sell foreign currency for conducting permitted transactions.
According to the Resolution of NBKR Board No. 47/3 dated 11 June 2010 it is allowed to:
record cash balances of resident legal entities of the Kyrgyz Republic as of COB, June 10, 2010;
from 11 June 2010 to replenish accounts of resident legal entities of the Kyrgyz Republic using cash and cashless mode without limitation in the amount;
from 11 June 2010 to transfer and receive cash from current accounts of resident legal entities of the Kyrgyz Republic for any purpose without limitations, but within amount of funds received to the account of resident legal entities of the Kyrgyz Republic from 11 June 2010;
amounts to be recorded as of 10 June 2010 shall be used in accordance with the Resolution of NBKR Board No. 42/1 dated 6 June 2010;
provide services of cash collection on a contract basis with third party organizations and enterprises of the Kyrgyz Republic;
conduct transactions on the accounts of the State Enterprise Kyrgyzpochtasy:
a) related to receiving and disbursing money under local and international postal money orders of the population;
б ) issuance and repayment of loans of OJSC Aiyl Bank.
According to the Resolution of NBKR Board No. 49/11 dated 16 June 2010 it is allowed to:
make payments from the accounts of resident legal entities of the Kyrgyz Republic with accounts, which had been credited by the funds from the State Budget of the Kyrgyz Republic by the results of awarded bids and/or contracts with government agencies to execute their commitments in order to implement the following government strategic projects aimed at the social sector:
construction of automobile roads of strategic importance;
construction of schools;
rehabilitation of facilities destroyed during the riots and devastation;
completion of construction of hospitals;
payments to agricultural producers;
provision of food to schools, hospitals and other government and municipal facilities;
projects on social protection of population.
An agreement (contract) concluded with a government agency, and/or approved results of tenders carried out by a government authority, decisions of commissions on grants and subsidies prior to 4 June 2010 shall be an instrument, under which a payment will be allowed.
transfer the funds from the accounts of legal entities to accounts of the Treasury of the Kyrgyz Republic opened to assist the persons affected by the events in the Kyrgyz Republic in April 2010 in Bishkek and in June 2010 in the South of the Kyrgyz Republic;
transfer and receive funds to/by resident legal entities of the Kyrgyz Republic to/from the current accounts as a charity from funds of the Red Crescent National Society;
disburse loans secured by cash-swap to micro-credit companies;
debit funds from deposit accounts, which serve as collateral for disbursed loans, with emerging arrears on principal and interest, to repay the arrears;
provide overdrafts on plastic card accounts under the payroll projects;
carry out charity activity of the Foundation AUB-Charity related to providing in-kind and other assistance to persons affected in emergency situations.
Transactions with natural persons shall be performed in full, except for transactions with persons associated with the bank, until a special notice, and persons specified in enactments of the bodies of public prosecution of the Kyrgyz Republic.
This list will be updated as restrictions on banking transactions are removed of by NBKR Board.
If bank's branch staff exercises the above-mentioned restrictions on the allowed transactions, or in case of charging an additional commission fee in addition to commissions effective in the bank for the allowed transactions, please kindly communicate such cases by telephone: (312) 55-44-44.